Geode Capital Management LLC Boosts Stock Position in Sun Communities, Inc. $SUI

Geode Capital Management LLC grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,296,740 shares of the real estate investment trust’s stock after buying an additional 52,502 shares during the quarter. Geode Capital Management LLC’s holdings in Sun Communities were worth $289,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Versor Investments LP lifted its holdings in Sun Communities by 92.5% in the first quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust’s stock worth $842,000 after acquiring an additional 3,145 shares during the last quarter. Aew Capital Management L P raised its position in shares of Sun Communities by 7.2% during the 2nd quarter. Aew Capital Management L P now owns 205,190 shares of the real estate investment trust’s stock worth $25,954,000 after purchasing an additional 13,730 shares during the period. Deutsche Bank AG lifted its holdings in shares of Sun Communities by 103.7% in the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock worth $207,294,000 after purchasing an additional 820,422 shares during the last quarter. American National Bank & Trust acquired a new position in Sun Communities during the 2nd quarter valued at approximately $759,000. Finally, GW&K Investment Management LLC boosted its position in Sun Communities by 0.5% during the 1st quarter. GW&K Investment Management LLC now owns 427,329 shares of the real estate investment trust’s stock valued at $54,972,000 after purchasing an additional 2,293 shares during the period. Institutional investors own 99.59% of the company’s stock.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $126.24, for a total value of $504,960.00. Following the sale, the director directly owned 26,000 shares in the company, valued at approximately $3,282,240. The trade was a 13.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.77% of the stock is currently owned by insiders.

Sun Communities Trading Up 1.1%

Sun Communities stock opened at $126.85 on Monday. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The stock has a market capitalization of $15.69 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86. The firm has a 50 day simple moving average of $126.33 and a 200-day simple moving average of $125.56.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.10. The firm had revenue of $697.20 million during the quarter, compared to the consensus estimate of $713.32 million. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. As a group, equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities’s dividend payout ratio (DPR) is currently 52.13%.

Wall Street Analysts Forecast Growth

SUI has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Truist Financial increased their price objective on shares of Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday, October 8th. Evercore ISI upped their target price on shares of Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Finally, Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus price target of $137.58.

Sun Communities Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.